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says that mr. obama wants big government, not a big economy. >> republicans have tried to persuade the president of the need for a course correction. but weeks of negotiations have shown that his commitment to big government is simply too great to lead to the kind of long-term reforms we need. >> question. when the negotiations started, president obama was looking for a big deal. $4 trillion in spending cuts and tax hikes. has the big deal turned into a big fizzle, pat buchanan? >> it has not, john. did it for awhile but now it is back, and we're talking about something close to adds 4 trillion deal. the president is deep in negotiations with boehner and cantor, and here are the terms. you raise the debt ceiling, at the same time there are 3 trillion in cuts, and they deal with social security and medicare. there is no revenue enhancement. however, you get together some kind of commission which what it does, john, it drops tax rates in return for giving away these deductions, exemptions, allowances, breaks, which in effect is pure reaganism. there's one problem with that. there's a
of winning back the house, they don't want to go there. republicans have a big flank of new members elected on a pledge of no new taxes. nobody is dealing with reality. anybody on this panel, two of us could make a deal, but they cannot. >> why can they not make a deal, charles? >> you saw it in the clip you showed. nancy pelosi is the classic definition of a reaction. liberal. no changes in programs, entitlements. -- classic definition of a reactionary at liberal. no genocide programs, entitlements. if you all make -- note changes in programs, entitlements. if you don't make changes, he will wreck the economy, and everybody over the age of nine knows that. is that they are not willing to means test -- if they are not willing to means test entitlements, which you think and liberal alike, who always argue in terms of sharing the sacrifice and the rich bearing the burden, nothing will happen. >> colby? >> you just had exhibit number one of why they have not been able to reach a deal, as my friend charles expressed. if you start out with nancy pelosi and the position of republicans on tax incr
, they will be arguing for his power to be curbs. there is a big discussion. in the u.s., and they are investigating. tomorrow and the next days and weeks are going to be fascinating in that respect. >> as always, we thank you very much. on to libya now, where rebels have claimed victory in the battle for a strategic town. there are conflicting reports about whether or not they have complete control of the town which has been held since gaddafi -- by gaddafi since march. most of the gaddafi forces are said to be retreating west. rebels say 12 fighters were killed and hundreds wounded. the capture would mark a major rebel breakthrough in their bid to push westward. the foreign ministers of europe have been meeting in brussels to discuss the situation in syria. they are considering a series of measures to resolve the standoff between the president and his opponent. in syria itself, anti-government protests are continuing, and activists are warning of potential civil war in the country. >> syria was top of the agenda in brussels today. eu foreign ministers pressured the president assad to reform or ste
appears to be following -- the falling apart due to the credibility of the accuser. there is a big trade dispute going on right now. the european union and mexico which took objection to the abuse of quotas, china must either appeal the ruling or comply by removing the restririctio. failure to do so will enable the u.s. to respond with trade sanctions. they are used in the electrical appliances and predominantly in ththe stl industry. the banking system could also be headed for some big trouble. they have failed to keeeep track of economic stimulus funds. the total value could be well over 300 billion euros. the scale of such loans could pose a threat to china of's entire banking system and the risk exposure could change the credit outlook. the trade manufacturer has plans to cut more than 1400 jobs. a move that will eliminate half of the entire work force. the decision comes after they failed to win a major contract to build more than 1000 train carriages in britain. >> of the contract is part of the plan to upgrade the rail lines. the consortium won the final better. the contract calls
on the fate of europe's economies. there are plenty that want to and the stranglehold of the big three. >> is not good when the entire world is being governed by three american companies. it would be better if there were more competition. and i would be very keen to see european and asian agencies as well. the situation as it is now is not healthy and we must put and intellect. -- an end to it. >> european lawmakers helped create that unhealthy situation. the european union strengthen the role of credit agencies when it adopted the international banking agreement. the question the wisdom of that move. he helped lay the foundation for the single european currency while at the european commission. he is analyzing the efforts to save the ural -- euro. >> if they are a minimum requirement, the agencies would not be so powerful. >> they are supposed to make the banking system more stable. somehow the people that rate it see things? a small independent ratings agency believes the government should enact increased competition. >> the problem have right now is the regulatory framework lead to
in the senate for us. how does austerity look for ordinary italians? >> the big weakness of this budget is it puts off some many of the cuts and tax increases until 2013, 2014. that is not coincidental. there is a general election in june 2013. all of this will have to be done by the next government. in the meantime, there is going to be a gaming tax, increased health charges, cuts in pensions, but only for the highest pensions -- and in italy, pensions are pretty generous. this is not a budget which in the short-term is going to lead anybody into destitution. >> in other news, syrian pro- democracy activists say government forces have killed at least nine people as protests against the president continue. reports indicate the military crackdown on opposition activists in damascus and hana. police have arrested members of opposition supporters. non-governmental organizations say at least 1600 people have been killed since the uprising began four months ago. 13 turkish soldiers have been killed in an attack in the southeast of the country. officials say kurdish militants ambushed troops.
wantsto be speaker. his life. e highest priorit9 in he's achieved it. the other big difference john boehner was once a committee chairman. he pushed legisla$ion throughl he knows how to make deals@at the coittee levels and he believes in the houseworkiwn. righting legislation in the hands of a tight-knit group of peoplea"ound the speake dennis hastert ntued that, nancy pelosi continued that. john boehner is unwinding that concentration of power, making the house a@differt place. >>i think he's got a ot. >> at @@becoming the president? >> yes. >> i don't see that, john. >> just thk about it. >> i just think there are other people are. >> his brand ofrepublicanism would carry. >> but i n't think has the@ -- either the bition or personality@todo that. >> he likes golf too ch! go on campaign trails. >> what about eisenhowe"? eisenhower liked golf a lot >> exit @@estion,@s hn boehner brout civili back to congress, yes or no?@ >> i think to a great @@extent. he is morealmer, asonable, rational guy. he done a good job dog that. >> he's la back, but he's representing a republican caulk tha
to nutritiondata.com, a whopper and a big mac each have more than half the amount of fat you're supposed to eat in an entire day. >> you've got to educate yourself about food, and a lot of what my book is about is just trying to tell you the difference between this industrial food and real food. >> reporter: eric schlosser spent two years researching the fast food industry. he wrote a book just for kids called "chew on this -- everything you don't want to know about fast food." it includes one surprising fact about those mcdonald's french fries many of us love. >> they're salty, and mcdonald's puts a little extra something in them. and when i was doing research for the book, i discovered that little extra thing is beef flavor. so the fries have beef in them, and if you're a vegetarian, you shouldn't eat them. >> reporter: eric isn't a vegetarian. in fact, like most of us, he loves a good burger. but he stopped eating fast food after he did his research. he already knew most fast food is not made fresh. it's processed -- created in a big factory, frozen, packaged and shipped around the world. th
will wreck the climate and we will wreck the oceans. >>reporter: and big brand bikes mean business in india, as demand for luxury two wheelers revs up >>i walked into the mall and they had this showroom, i saw the bikes and i knew i had to get one. >>reporter: hello and welcome. i'm raya abirached and this is world business, your weekly insight into the global business trends shaping our lives. three decades of urbanization and economic reforms have lifted hundreds of millions of chinese out of poverty. the big concern now is how to keep feeding them. changing diet, increasing demand and tightening supply threaten the country's food security. it's a delicate balancing act and one that has implications for commodity markets worldwide. >>reporter: dragon spring village, in the hills above chongqing - where li xingming's family has worked the fields since the 19th century. >>before, our village never planted vegetables, only rice. now, we grow vegetables and we grow less rice, we just grow what we need. >>reporter: this growing and changing demand is coming from china's ever expanding cities -
not call it a war with itself, but there is definitely a big divide between the classic dealmakers, the moderate republicans, and the freshman tea party members. they are quite numerous. they want to cut spending and massive weight and balance the budget. house republicans passed a deal only a week ago that included those two things. massive spending and a balanced budget amendment, but the senate, which is a majority democratic, would need to take that up. house speaker boehner took the amendment out. that is not even getting through the house. what they are discussing right now is put it back in at some point. >> a little bit of a yo-yo effect. house speaker boehner has been in charge through this, particularly this week. is charged is to craft legislation the house will accept. so far he looks like a failure, does he not? >> his reputation has taken a big hit this week, no doubt about that. the momentum is shifting from the house, led by the republicans, to the senate, led by the democrats. they are drafting their own legislation, trying to push that through. i have outlined a p
on the debt. so let's hear him say in public once. >> why is it that when he offered the big deal, the $4 trillion deal -- >> the grand bargain. >> the grand bargain, republicans backed away from it. >> when did he offer that? >> he offered it last week. >> where? >> he did it publicly. bamut give me a number. >> in a matter of two days, republicans backed away from that and said they did not want it. >> you accept everything he says, the $4 trillion deal. if you do not have a single item in it that you can enunciate. >> i am not at the table. perhaps you are, but i am not. >> how can you expect america to accept something in which he explains nothing? >> can we hear from mark? >> can this marriage be saved. >> i hope not. >> john boehner believed there was a $4 trillion deal. john boehner is not a naive newcomer to washington. he has been around. but john boehner also knows some history. the last time we had a major budget deal that by every definition work was bill clinton in 1993. without a single republican voting party in the house and senate. it included twice as much in tax increas
on chancellor merkel's viewpoint. >> angela merkel warned that people should not be expecting one big, spectacular solution. this is a long, ongoing process. it is a matter of small steps. we have to make sure that greece becomes competitive again, that it gets its debt down, and that will not be achieved with one big, spectacular step. president medvedev also had some words to say on the euro. he says he is cautiously optimistic that it will pull through. he says it is an extortion attempt, said nations have never tried before, and it is wishing europe bloc -- he said it is an extraordinary attempts, such that nations have never tried before, and he is pushing europe luck. >> some clouds on the horizon. a closely watched survey said dennis analysts and institutional investors are in anticipating a weaker performance in the months to come -- a closely watched survey said analysts and institutional investors are anticipating a weaker performance in the months to come. use 9 last month. crisis, could spread to italy. however, the drop in german expectations may not translate to weaker e
this big high pressure system covering japan. so we're looking at intense sunshine again. but with the heat of the day, we'll certainly be seeing some sporadic afternoon showers. across china, showery weather for northeastern china, and then we've got this very long seasonal rain band affecting the korean peninsula. could get quite intense for you again, north korea as well as jiangsu and an hui, as much as 100 millimeters. flooding is going to be a big, big concern as it has been raining for days. then down towards the southern end of china it remains fairly unsettled. in and around guanxie, hainan island, plenty of showers to be had across indo china as well. 25 degrees in chongqing today. seoul 25, another rapy day. and tokyo is going to be hot and steamy at 32. now we head into north america. very long frontal system impacting north america. today we've got lots of showers developing here across the lower midwest, the plains states up towards the northern rockies. particularly severe near this low pressure system from montana and across illinois as well. significant rain to be found fro
previous bouts winning them all. goeido was expecting a big performance of the basho but only one win after five days. a game of tactics and quick thinking as each time goei 'do o tries an attack, yokozuna switches grips. hakuho counters. the bout offers it all. hakuho rises to the occasion. forces out the komusubi. undefeated aalways is hakuho. after six bouts. just maybe the old and better harumafuji is back after he shares the lead in five days. who is only one of two of the last 11 against the ozeki. the veteran resists momentarily the ozeki hits again. harumafuji delivering quality sumo this time. >>> aside from hakuho's quest for eight tournament victories in a row, kotoshogiku is out for at least 12 wins to consider the ranking for ozeki. we'll look at that soon. first barato's attempt to bounce back from yesterday's untimely loss. baruto look more than annoyed after losing on day five. toy toyonoshima can be a giant killer if he gets a double grip inside. toyonoshima is inside, but baruto blocks the hand squeezes the little man. writing on the wall, baruto redeems himself with a sol
in business news. big losses on stock markets overnight. >> indeed, catherine. europe and wall street sliding overnight. new york stocks tumbled on monday on growing concerns that greece's fiscal problems could spread to other european countries such as italy and spain. the dow jones industrial average lost more than 180 points at one stage, closing the day at 12,505, down 151 points from friday's finish. sell orders surged for a wide range of issues. earlier in the day, european stocks were down across the board. market sources say investors are speculating eu stress tests for regional lenders could reveal problems that are weighing down on italian banks. results will be announced later this week. italy's long-term bond prices have plummeted on the speculation. >>> now let's go check on tokyo shares after a considerable setback on wall street and continued concerns in europe. we go to ramin mellegard who is at the tokyo stock exchange. italy emerging as the next big story. >> very good morning to you, ai. we're really seeing that reflected in the markets here at the open boat the nikkei down
the measure. >> there are so many big problems, especially in my age group. we have to rethink the entire system. >> with this austerity program, when is our economy going to grow again? this economy will never grow again. >> some economists say the measures will dampen growth. something had to be done. it today's overall debt is among the highest in europe. markets will keep a close eye on the country until the austerity measures start showing results. >> european stocks slid on a friday and posted their biggest weekly loss in four months. the german benchmark index closed in positive territory. across the atlantic, the dow jones industrial managed to close the day in positive territory. the euro is trading with $1 at $1.46. barack obama has warned that time is running out on raising the a limit the -- raising the limit on the amount of debt the u.s. can have. a decision is needed to avoid a possible default in early august. billy could mean a rise in interest rates in- -- failure could mean a rise in interest rates. more news with brian thomas. >> western and regional powers have given
! why is he introducing it? >> i think the president is acting in good faith. i think he wants a big deal. i think he will take cuts that contracts won't want and take taxes. because his presidency and the future of the country -- he believes -- [everyone talking at once] >> socialistic. that what you're saying. >> vaguely socialistic, yes. >> when they came out with the report he said -- >> what is that report? >> that's a report that deals with the long-term deficit problems of this country. >> they recommend taxation, do they not. >> they had a whole series of recommendations, and the president said i will stand by what they did, except they're still waiting for him to stand by them. >> he's never taken it seriously, in not in his budget, not in his budget state, know when bowl simpson came city. not when they wanted a clean debt limit increase. so that he is winning a debate over the fiscal future of the country is astonishing! and. >> but he's keeping something else off page one! what is it? >> this is a genuine. >> the unemployment problem? it doesn't even figure in this. >> co
americans, there's a big degree of this dog just connected to the shuttle. 1 million people traveled to florida to catch a glimpse of the final lift off. we begin our in depth with a look at how the shuttle revolutionized space shuttle as well as some of the challenges it has faced over 30 years of operation. ♪ >> the space shuttle is the symbol of the u.s. space program for more than three decades. it began with the dream of flying weekly missions into orbit. they were on hand for the debut of the prototype. no one had seen a spaceship like it. after vertical lift off, it could glide back and land like an airplane and ready for another mission began. -- it again. >> everyone wondered what spaceflight with wings would be like. it was supposed to be simpler with less acceleration. it was uncharted territory for nasa. >> it also paved the way for other countries to join nasa it in exploring space. the europeans build a research lab specially designed for the shuttle's loading bay. it is your ticket to manned space flight. -- it was europe's ticket to manned space flight. the first on
greece in hopes of protecting big ones. >> the threat today is for the whole eurozone, so we need to find a solution. >> ministers signed off on what they hope will be part of the new solution, the new bailout fund that will kick in from 2013, but as they all know, a lot could change before then. >> our brussels correspondent has been following the discussions by the eurozone finance ministers in brussels. can you tell us what has come out of today's debt crisis talks? >> the formal agreement on anything has now been pushed back into another meeting of finance ministers later this month, but they have been discussing a lot. of course, the focus has been on greece and the question of a second bailout for greece. is it possible? how much will be needed? when will it be triggered? and, crucially, should private bondholders take their share responsibly? should there be obliged to extend their lines of credit to greece to put off the evil day when they will need a second bailout and call in their dead? the ecb, the european central bank, thinks that is stretching it to try to get that agreemen
backwaters across the country, it has big plans for the next five years as it seeks to boost incomes by at least 14 percent annually. >>the most meaningful economic decisions are made far away from beijing, in places like here - pengshui - over 1500 km south west of the capital. few if any here are interested in cooling economic growth or slashing investment plans as this is the only model they know that can provide jobs, spread more money around and, it's hoped, keep the people content. >>reporter: and in this belief, the local authority plans to plough some 2 billion us dollars every year into investment in buildings and infrastructure. >>the pace of our development is very fast - but we are very poor, we are backward, we are under developed, we're coming from a very low starting point. that's why, in our new five year plan our growth could reach 20 percent. >>reporter: one of pengshui's big ideas is to build a new city centre on this farmland, a 20 minute drive away. in a couple of years' time, the billion dollar project will be linked to the old districts via a tunnel through the
to what analysts call special charters. >> it shot a big hole into the company's results. it will years ago, the ceo and russian prime minister agreed to a partnership with the russian state energy concern. the partnership explicitly forbidden under an agreement with the former french joint venture partner. in may, an arbitration panel ordered siemens to pay damages. another big setback came from the company's health-care operations. the invested heavily in new particle beam therapy to treat cancer. now, it has taken a charge after reevaluating the commercial feasibility of the new technology. the company's other main areas -- heavy machinery and rail transport -- remain strong, but russia says that risks in the global economic outlook are increasing. siemens is already feeling the pressure of increased competition in the wind turbine market. >> the u.s. debt crisis is still unresolved. greece is still struggling with its spiraling debt, and concerns about rome's ability to cut its sovereign debt. italy's borrowing costs soared to almost 6%. the auction was conducted in about how market
to what natalie has to say about how to make the grade. >> here it is -- the big test. if it's still more than a week away, you have a chance to make the most of each minute you study. stretching out your studty time is important. in fact, experts at the university ofa' north carolina y the more your study time is spaced out the more you'll remember. that means a half hour a day for five days a better than five hours on one day. so don't wait till the night before. plan out your week leading up to the exam, and give yourself a little more time each night for studying the test subject. i'm natalie here to help you make the grade. these students are rehearsing for their school's big winter play. this year they're staging "the sounds of music." >> i wanted the children to say good night the way they did last night. >> no, not here. >> please, the way they did it for me.$ >> originally a musical on broadway, most of us know the "sound of music" with the movie with julie andrews. ♪ the hills are alive with the sound of music ♪ >> in fact, the film classic is celebrating its 45th anniversar
. >> afghanistan off page one. iraq is on page one? >> in the ends of july, this is going to be up this big on page one finish they're in the deal. he's got to -- [everyone talking at once] >> unemployment rate on page one! >> if the unemployment rate comes out high, it will be the lead story in the newspaper, john. >> it will dominate the story that we just had? >> it will dominate if for a couple days. >> there will be a deal. >> there will be a deal? >> and there will be a deal and neither side will be happy. each side will give the other side something. they're -- >> not the taxes. that won't be part of the deal. taxes will not be part of the deal. >> what do you 90. >> tax revenues -- [everyone talking at once] >> they'll find something, i think, to agree on finally. i don't know whether it will be on august 2 or august 5th. but unemployment rate is not off the front pages. unemployment is -- on the number-one issue in 20% of american names. you have the biggest unemployment we've had since the great despres in real terms that. is what will kill obama's prospects if he doesn't do something abo
,000. >> at the recent barrett jackson car auction in palm beach, florida, cole got his big chance. at first, he was only supposed to start the bidding for spanky. >> you ready? okay. ladies and gentlemen, here he goes. the man, the myth, the lend. >> cole took off fast and furious. >> this kid's not handing it off to nobody. he wants it to all himself. >> $50,000. $40,000. >> cole ashley deserves a scholarship to auctioneering school. he's got quite a future. >> everybody, dad told me he needs the money. come on, now. >> spanky will be hiring him in about five years. >> yeah, count on it. i'm sure we're going to see more of cole ashley if spanky has anything to say about it. >> sold, $40,500. >> good job. from start to finish. >> and the audience is just as sold on cole's impressive performance. this is one kid who's going, going, going to have a great future in the car world. for "teen kids news," i'm nicole. >> i'm going to try to ride this thing. can i do it? stay tuned to find >>> what has one wheel, one seat, and one talented rider? a unicycle! this bike may look liked something out of the circus,
growth area. it's a big growth is in the mobile sector and not in the pc market which had to lower the expectations for the pc business for the months ahead. there is a mixed outlook and that is the reason why the stock of intel is losing in the thursday session. >> what other shares or stories are standing out in the session? >> basically, we got extremely good numbers if you compare them to expectations from morgan stanley, the last big american bank to come out with earnings. the stock is trading up by 1.9%. that helps to support financial stocks and wall street. we had a pretty gloomy outlook from pepsi. they had decent numbers for the past but the outlook is a bit disappointing. that stock is one of the bigger losers with a drop of about 5%. >> thank you very much. staying with earnings, things are looking up for american express. cardholders spend a record amount in the second quarter of this year and that sent profits surging to over $1.3 billion. this was a bit of a comeback. many corporate clients cut back on spending during business trips during the financial crisis and f
the procedure which was then banned. a court found in his favor, spurring a big public debate. >> it may prevent suffering in individual cases, but in every single case, it denies a conceived human life the right to live. we should not do that. >> no one takes the decision to have the in vitro fertilization lightly. it is an extremely stressful procedure. both physically and psychologically, and it carries a social stigma. >> couples to go this route already have a long history of suffering behind them. ultimately, arguments like that won, but the use of the procedure will be strongly restrict it. the only parents with hereditary illnesses will qualify. a few hundred couples are likely to benefit each year. >> i am relieved that a sensible world will affect the majority and couples are not prevented from seeking treatment in germany. >> this person finally knows where he stands after campaigning for the procedure the last six years. >> later, the discussion over embryo screening. >>> britain's biggest selling sunday paper has been shut down at amidst the phone hacking scandal. "news of the world
france big 3. germany is gearing up for thehe tour de france. the coach says the team will have to fine-tune its strategy. the german women may be failing to live up to their status. they are sticking to the game plan. the players are looking to improve. >> we have to start playing proper football. straight out attacking the banks so far, we've slipped up on making the final bass and converting our chances -- making the fina pass onrtinour ch if we can donce time. >>ngermy'ud eng. atold ofhe neplaaoe n n lltoy t hepackard set up operations here years ago. the company has invesd the 3miion euros here and continues for the work force of more than 2000. us the openness, meaning t attitude of the people, and the bience of thepele, and of the city. you love had a good mixf naturally, that hasadusor open to strangers or to rene. >> po companies with strong economic growth and low taxe they bef from the strategic locationon at eze borders right into the middle of europe. while some europeanouri are focused on getting their finances in order, poland is european s socce championship, icis chting
in space, you look back, it's a big blue marble planet we live on. as planet "ocean" residents we have to do our part. >> reporter: to learn more you can visit helvarg's website, bluefront.org. when it comes to saving the ocean, i guess you can say it's time to sink or swim. >> stay with us. there's lots more still to come on "teen kids news." >> we'll be right back. >>> and now our fox in the classroom update. >> nato confirming one of its air strikes on tripoli went offtarget and caused civilian casualties. the libyan government accusing nato of killing nine civilians in the air strike on a residential neighborhood in the capital. meanwhile, syrian forces sweep through the northwestern border region to block refugees from escaping to turkey. president bashar al assad blaming saboteurs for the recent violence and protests. >>> wind gusts continue to challenge crews fighting arizona and new mexico wildfires. thousands of residents in southern arizona evacuating their homes as powerful winds push the flames acrossroads and containment lines toward populated areas. the wallow fire burnin
' point is white. these are tiny, tiny little drops in a big ocean. there is not enough in corporate jets or even the hedge fund guys, although i would like to. they have to raise revenues, i hate to say it, on the middle class. this is the point that gets lost on this. everybody is in this boat. there is no way out of it unless every single american does something. >> raise revenues on the shrinking middle class, mark. >> everybody is in it, and evan is right -- evan addressed the possibility of default. when that happens, the federal government of the united states, which bars or 40 cents of every dollar we spend every single day, is faced with the option -- do you pay a sergeant in combat in kandahar, a grandmother with a 1-bedroom apartment in social security check, or to meet the obligations of bankers who are holding their debt in beijing and beverly hills? the answer is simple. the prior claim is on the second group. the reality is we are talking about -- the president is proposing increasing taxes, revenues, by 1% over the next 10 years. $400 billion. we are going to collect $39 t
to translate into a big business opportunity, with adventure sports companies mushrooming across the country. 220 kilometres north of new delhi is rishikesh; a popular spot for an adrenaline soaked spot of white water rafting. >>you are just 4-5 hours away from delhi, so close to it, but still you feel you are so away from it. it's another world >>many local people have joined this industry. the rafts have become cheaper, and the government offers many subsidies and cheap loans. that's why the prices we charge customers have fallen too. >>reporter: hardcore enthusiasts are adding and promoting new competitive events every year. at the bangalore adventure race, competitors combined cycling with rock climbing to push the limits of endurance. >>we're about 5 hours into the race, and we're at the bouldering area. and this is one of the most difficult part of the race today. the participants have already cycled 50 kilometres, and 12 kilometres of very, very technical trail. they're cramping, and they can't lift their legs, and their arms are tired. >>this is my first adventure race. i've always b
the dollar. ai, give us the latest take on that. >> absolutely, catherine. big losses overnight in europe and the u.s. new york share prices plunged on wednesday as u.s. policymakers could not resolve their deadlock over raising the nation's debt ceiling. the dow jones industrial average lost more than 198 points and ended the day wednesday that is at 12,302. the index had dropped over 200 points at one stage. investors placed sell orders on a wide range of issues as lawmakers could not reach an agreement on the debt limit. the stock market lost more ground after the u.s. central bank said the american economy is slowing down in its periodic survey of economic conditions. sources say the focus of market players now is whether lawmakers can come up with a deal before the august 2nd deadline. >>> and to see how stocks are trading here in japan this thursday morning, we cross over to ramin mellegard who is at the tokyo stock exchange. good morning. what can you tell us? >> good morning to you, ai. whey can tell you is that the nikkei has broken below the key psychological 10,000 for the firs
as the big three, and command a 93% share of the market. they look at the books of businesses and countries and judge how able they are to pay back financial observations. in a complex internet -- international economy, this information is vital to investors. when the bretton woods system of monetary management fell apart in the 1970's, the role of ratings agencies became even more important. the u.s. government gave them the task of assuring financial reliability. the european union has also require banks to increase capital in line with risk exposure. that risk is measured by the ratings agencies. >> the influence of ratings agencies lies on the one hand in the way their evaluation system has been incorporated into legislation. on the other hand, many business contracts are tied to the marks of the ratings agencies. that means certain private investors will only invest if there is a certain rating. >> one such example is the insurance giant allianz, which relies on ratings agencies to invest huge amounts of capital. but that system historically failed on a massive scale and when the agenc
the political spectrum how the big sector pensions need to be reformed. we need to do that in a reasonable way. >> the strike was the largest in britain for many years. unions said the action might be followed by larger protests later this year when a major public spending sector cuts are expected to begin to bite. >> human-rights activists and syria say security forces have killed at least 19 people in the north of thee country in the past 40 hours. the regime of president assad has move forces to stop refugees from fleeing into turkey. protests against the government continue across the country. hundreds of protesters took to the streets of all. for the first time. in a border town, sir joseph -- soldiers used tear gas. more than 30 people have died as a result of the crackdown on pro-democracy demonstrators. -- more than 130 people have died as a result of the crackdown. jibral said he respected the german abstention in the u.n. vote but action is needed as the war against muammar gaddafi drags on. >> thursday was the third time that the german foreign ministry has meet with the leader of t
, tokyo. >>> let's look at the latest in business news with ai uchida. there was a big jump in stock markets. >> european and u.s. markets up overnight. new york stocks surged over 200 points tuesday, marking their largest one-day gain this year. the dow jones industrial average finished the day at 12,587, up 202 points or 1.6%. the key index opened sharply higher following a robust earnings report from ibm. market sentiment received a further boost after president barack obama expressed support for a bipartisan proposal to cut budget deficits. >>> stocks weren't the only thing that rose. u.s. housing starts in june jumped from the previous month. attention is now focused on whether the housing market which is a major component of the u.s. economy continues on a full recovery track. the commerce department says housing starts stood at an annualized 629,000 units, that's up over 14% from may. the figure is far above the market expectation of 570,000 units. building permits which are an indicator of the prospects for the housing market also rose 2.5%. >>> and now let's take a look at j
with into the next 24 to 48 hours. all right. as we head now up to the big picture, severe storms are going to be pushing along the northern tier of the u.s. around i think the heaviest rain is going to be in north dakota, maybe south dakota getting some of that as well as montana. as for up toward canada, alberta and saskatchewan, maybe moderate showers out here. they won't be as intense. showers will be pushing into the northeast. that's nottet a bad thing. it will be helping to push the temperatures down into the weekend. take a look at the highs forecast for friday. 37, new york city, 39 in d.c. and to give you an idea of the departure from average, we're talking about, philadelphia, nine above average, boston, nine above average. so this unrelenting heat is going to be with most of you for the next few days. do take care if that is you. all right. into europe, to the west, showers, nothing too substantial. but the heavy rain is going to be continuing across scandinavia, down through northern germany, and pulling into the baltic states as well. along the front the storms moving down int
additional heavy rain of more than 100 millimeters in the next 24 hours. so flooding is going to be a big concern here, as well as strong winds and high waves along the east coast. in terms of temperatures, it stays hot in southern china. 38 degrees in nanchang today. and shanghai reaches 37 degrees as well. it's very, very hot indeed. now for the americas, looking very unsettled down in the southeastern corner here. watch out for those drenching thunderstorms, picking up all that energy from the gulf of mexico. a couple of severe areas to watch out for across the north as well. for the northeastern corner of the u.s. awell as eastern canada. and then back behind the tail end of this frontal system, this w pressure system forming over montana. so areas nearby for western canada, the plains states as well as the northern plains, i should say. look out for those strong thunderstorms. looking quite showery over down in the southwestern corner as well as western mexico here. temperatures stay very, very hot in the central and the southern portions of the u.s. 40 degrees in oklahoma city. 34 i
their salaries. there are not job opportunities. people are not able to get back to normal life. that is the big challenge for the national transitional council. in west libya, the fighting is going on. there is a gap and a difference between the east and west libya. >> us talk about the facebook generation. how much of a difference is it making in libya? >> it is interesting to me, the rebels. they are the generation of facebook. the people fighting now are those who used to chat on facebook. this helps indication between them. even to get international attention by spreading videos and photos. the proof of that was that gaddafi shut down the internet. in the gaza, they are getting access again. >> what can the international community to to support the rebels? >> the most important thing is that they recognize the national transitional council as the traditional -- legitimate representative of the libyan people. that is the most important thing. they will meet in is a symbol. they will work to support the libyans financially. -- they will meet in istanbul. >> what can germany due to support the
, too, over the course of today. it's a big concern and turning very stormy. now, let's forecast path towards the north a little bit more over the course of today and then veers quickly out and heads out in towards the east and this is a fairly slow-moving system and it's large so a wide area's going to be impacted. and we are going to continue to see that stormy weather over the next couple of days. now, of course, plenty of rainfall, especially along the pacific side and in addition to that, damaging winds, dangerous surf conditions and potential for landslides as well as flooding. rainfall amounts in the next 24 hours into wednesday morning as much as 800 millimeters for the section and some of these areas have already seen a lot of rainfall in the past 24 hours, too. so amounts are easily going to hit almost a meter high. very, very wet conditions. do want to watch out for over the next few days. >> all right. we'll be checking back for the latest in those -- in that situation. so japan's women's soccer team arrived home after winning the world cup for the first time. the team arr
. >>reporter: why hydroelectric power is a big draw for energy intensive industries around the world. >>things like the smelting of aluminium of bauxite you're going to need huge quantities of power andfor that hydropower does seem to be the obvious solution >>reporter: and how social media can be an amazing source of market research, if companies can sort through the vast amounts of consumer comments posted online. >>the scale of data mining is increasing all the time. the cost of, the unit cost of data mining is going down all the time. >>reporter: hello and welcome. i'm raya abirached and this is world business, your weekly insight into the global business trends shaping our lives. at the start of the year egypt surprised the world,by overthrowing the regime of president hosni mubarak. six months on and the country is at a crossroads. the revolution appears to have stalled, parts of the economy have been badly battered and protestors are back in the streets. >>reporter: cairo in july. the arab spring has given way to the arab summer. the city is boiling hotbut despite the heat hundreds of p
-- >> what are you suggesting? >> exactly what you think. >> paul tsongas had cancer. there was a big difference between cancer and migraines. if we are going to hold up a standard that if you have a headache that knocks you out for an hour or two, you cannot be president, fdr and kennedy, who had addison's disease, and eisenhower, who had a bad heart, would never have been president of the united states. i am not sure that is the position any of us would want to take. i think her answer was good, i think based on the evidence -- is their behavioral evidence of this woman not being able -- >> just be a cautionary. >> well, cautionary is fine -- >> i don't know the capitol hill physicians but i don't think it is fair to imply that somehow this is a less qualified individual. >> i'm not saying that. >> what about rick perry? >> rick . looks more and more like he is going to come into the race. -- rick perry looks more and more like he is going to come into the race. mike huckabee, a conservative finalist in 2008 against john mccain, has taken a shot at him, saying he will be the champio
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